That figure is based on a study which estimated the average F500 company could be wasting at least $25m a year on unused creative assets; that grows to billions across the whole industry.
Why advertisers should be concerned
Apart from the obvious financial impact, it’s evident that advertisers lack visibility into an asset’s creative lifecycle. Understanding that enables greater efficiencies and allows brands to answer pressing questions, such as how content is being used and repurposed, which in turn facilitates a data-driven conversation between global and local teams.
Takeaways
- Advertisers should examine where there are opportunities to make efficiency gains in their creative lifecycle.
- Reallocating budget toward activities that will drive further value might mean more investment in content that is activated, or upping investment into research or media.
- Generative AI could cut production costs and time, but there’s little point if the resulting content is never deployed.
Final thought
“The industry dedicates much air-time to the notion that content is wearing out, but the data shows that more than 50% of ads we create never reach the consumer, let alone get a chance to wear in”
said Anastasia Leng, CEO and Founder of CreativeX.
Source: warc.com
